Nigeria has received its first sovereign debt ratings from Fitch Ratings and Standard & Poor’s, but some analysts have questioned the appropriateness of the ratings assigned.
Both agencies assigned the sovereign a BB– rating, on stable outlook, in February, putting the country on a par with some of the top emerging markets performers globally.
“Nigeria has a very strong economy and the fundamentals are there,” says Sruti Patel, head of research at Afrinvest. “But it is slightly surprising that...
